Port cities of the middle colonies became bustling community centers because trade was very important and happened there. Many of the merchants lived in Philadelphia or New York City.
When societies are using all available resources and technologies most efficiently, they are operating on the production possibilities curve.
<h3 /><h3>What is the production possibilities curve?</h3>
It is a graphic representation for the economic illustration of compensations and scarcity, that is, through this PPC graphic it is possible to analyze how in an economy production resources and technology are used through different combinations to guarantee greater efficiency in their use.
Therefore, the production possibilities curve ensures that the economy is balanced and limited in relation to the country's productive capacity, making the use of resources and technology more aligned with the amount of resources, production capacity and consequently increased effectiveness.
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Putting aside the very real human cost, war has also serious economic costs – loss of buildings, infrastructure, a decline in the working population, uncertainty, rise in debt and disruption to normal economic activity.
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<span>a person who buys and sells commodities for profit; dealer; trader.</span>
